After days of stability, Bitcoin (BTC) finally established a clearer direction this Thursday (25). The price of Bitcoin today opened sharply down 4.5%, which saw the cryptocurrency drop from $66,000 to around $63,000. In Brazil, the drop was smaller, reaching 3.7%, and BTC opened with its price quoted at US$328,000, according to CoinGecko.
Due to the fall in Bitcoin, practically all cryptocurrencies in the Top 100 opened the day lower. The only gains came from the Bitfinex token, LEO, which rose 1%, and Tron (TRX), which rose 0.8%. In addition to the USDT and USDC stablecoins, which opened the day with a slight increase of 0.1%.
Apart from these five, all other cryptocurrencies fell sharply in value. In the Top 10, the negative highlights were TON, whose drop exceeded 10% on the day, and Dogecoin (DOGE), which lost 8.5% of its value. Solana (SOL) also fell hard, losing 8.7% of its value, while Ethereum (ETH) fell 5.3% and retested the $3,100 support.
The biggest fall of the day was HBAR, which corrected part of the week’s strong gains and fell 16.1%. Next came Dogwifhat (WIF), whose perpetual contracts debuted on Coinbase this Thursday. This did not prevent its price from falling 15.7% in the last 24 hours.
Bitcoin price today
BTC went through five days of stability and even a slight increase, when it reached the top of US$66,000 in this mini-cycle. However, at the same time, trading volumes remained low, even falling further on some days.
According to Fernando Pereira, an analyst at Bitget, a price rise with falling volumes indicates a lack of sustainability. This setup may work in the short term, but it will eventually result in a price correction.
“The increase with low volume in the last 5 days already indicated to us that it was just a ‘pullback’ that would make the price fall again. On the other hand, the increase in sales volume when we rose by half the drop at the beginning of the month now indicates a likely return to the region of US$60,000 in the coming days”, said Pereira.
If this drop materializes, it means a new correction of approximately 5% in relation to current values. And traders who bet on Bitcoin falling did well, as liquidations increased by 100% in the last 24 hours.
Of the more than US$240 million liquidated, almost 25% of positions were long in Bitcoin, which caused traders in this segment to lose US$59 million. Those who bet on the rise of Ethereum, in turn, suffered losses that reached a total volume of US$51 million.
In total, more than 96,000 traders had their positions liquidated in the last 24 hours.
